German industrial production remained unchanged in December

According to the report from the Federal Statistical Office (Destatis), in December 2020, production in industry remained unchanged on the previous month on a price, seasonally and calendar adjusted basis. Economists had expected a 0.3% increase. Compared with December 2019, the decrease in calendar adjusted production in industry amounted to 1.0%.

Compared with February 2020, the month before restrictions were imposed due to the coronavirus pandemic in Germany, production in December 2020 was 3.6% lower in seasonally and calendar adjusted terms. In 2020, production in industry was 8.5% lower in calendar adjusted terms than in the previous year.

In December 2020, production in industry excluding energy and construction was up by 0.9%. Within industry, the production of intermediate goods showed an increase of 2.0% and the production of consumer goods of 2.6%. The production of capital goods decreased by 0.5%. Outside industry, energy production was down by 2.9% in December 2020, while production in construction was up by 3.2%.

In November 2020, the corrected figure on the production in industry showed an increase of 1.5% (provisional: +0.9%) on October 2020.